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By J K. Irwin

The authors discuss the application of drum and friction hoists under modern conditions and give four examples of friction hoists proposed for various applications. The paper concludes with a summary of the advantages and limitations of friction hoists relative to drum hoists. Introduction T H~ introduction of the multiple-rope friction hoist m the late 1940's has complicated the se-lection of the right hoist for a given job. Once such considerations as rope safety factor, drum to rope ratio, hoisting distance, tons per hour and/or service duty have been decided upon, the selection of a drum hoist is relatively simple. We now ask our-selves "which hoist -drum or friction? (See Figure 1 and Figure 2). When a friction hoist is a possibility we are immediately concerned with how many ropes to use, whether to hoist balanced or counter-balanced, whether a friction hoist will be flexible enough for the application and, of course, what the relative costs will be.

Jan 1, 1964

By Jiachen Wang

Longwall top-coal caving mining is one of the major mining methods for extracting thick coal seams in China. The top-coal caving longwall mining was began to use in the 1980s in China, and got the rapid development. The development of the top-coal caving mining technology in China, the achievements and the theoretical aspects progress of this method are described in detail in this paper. And the main technical model of China's top-coal caving mining is introduced in this paper. This paper also introduces the application of large-cutting-height mining in China and the technical level it has reached.

Aug 1, 2013

By D. J. McLaws

"Recent innovations in metal smelting technology utilize continuous oxygen-enriched smelting and converting processes which are capable of producing off-gases containing up to 60% SO2 or more. Other SO2 recovery processes, involving solvent absorption and steam or vacuum regeneration, can produce off-gases with SO2 concentrations nearing 100%.Processing of these high-concentration SO2 off-gases in conventional sulfuric acid plants can cause excessively high catalyst bed temperatures and poor SO2 conversion. In order to avoid these problems, a conventional acid plant design must dilute these high SO2 process gasses with dilution air in order to provide the required oxygen to effectively convert the SO2 and provide a heat sink (via the inert N2) such that the exothermic reaction, SO2 + ½ O2 ???SO3, does not exceed the temperature limit of the catalyst or the converter vessel.MECS, Inc. (MECS) has proven that a high SO2 feed gas design can be a viable option which can increase energy recovery, reduce energy consumption and potentially reduce capital costs."

Jan 1, 2014

By J. Ouellet

The design of hydrostatic liner for a deep potash mine shaft in Saskatchewan poses tremendous technological challenges. Technology has evolved to a point where one could consider a new innovative approach to hydrostatic liner design. But there is still a place for conventional technologies such as cast iron tubbings. As will be discussed in this paper, improvement to manufacturing process, installation procedures and even new materials can bring this technology to an excellent level of performance. With the spur of new projects in the potash industry of Saskatchewan, the authors worked in various shaft liner designs from the conceptual stage through to the construction phase. They were either directly leading the design work on some of these projects or acting as an external reviewer on others. Most of these shaft liner designs involved cast iron tubbing technology and ground freezing. The major challenge in sinking potash shafts in Saskatchewan is to go through a water-bearing ground formation under high pressure, known as the Blairmore or Manville fm. The only proven stabilizing technology for these formations is ground freezing. For a potash shaft, dry shaft conditions are highly desired, so a fully waterproof hydrostatic liner is required. All the existing potash mine shafts in Saskatchewan, except for two with composite steelconcrete lining, used the cast iron tubbing technology. Two new shaft tubbing liners have been constructed recently, one in the Athabasca Basin and one for a potash mine in Saskatchewan. When the authors began working on these new projects, what became quickly evident is that the technological knowhow for designing and constructing tubbing liners was no longer available within Canada and that the past construction methods used to sink tubbing lined shafts was obsolete. The tubbing liner for the shafts sunk in the sixties were designed either by German or British companies. In both of these countries only few tubbing lined shafts were sunk in last 40 years and the technology used in the sixties was not improved. There are only few countries where tubbing is routinely produced and installed: China, Russia, Ukraine and Poland. Out of these countries Poland is the one where this technology is the most advanced. The authors, working in close collaboration with engineers from Poland, attempted to rebuild this knowledge for the mining industry in Canada. This process involved thorough analysis of old technical reports, literature review and study of current polish design and construction practices as well as site visits of existing shafts. Through actual construction experience, some lessons were learned as well as ideas for improvements. In this paper, the authors will present a succinct review of design and procurement process. But, the practical aspects of the construction and installation methodology will be treated with more emphasis, more specifically the practice leading to good liner performance. Some of the poorly understood technical aspects of tubbing installation will be discussed more thoroughly and some currently accepted myths dispelled.

Aug 1, 2013

By L. W. Vigrass

Porous and permeable rocks deeply buried in sedimentary basins contain immense volumes of hot water with the potential to supply low-grade heat energy. A part of Canada with sizeable potential for low-grade geothermal energy is the northern Williston Basin of southern Saskatchewan. In this region, the University of Regina has conducted a geological study investigating the feasibility of producing large quantities of warm water suitable for space heating in the Regina - Moose Jaw area. The study has shown that the most favourable geothermal reservoirs are in the Basal Clastic Unit (Cambrian Ordovician), which, at an approximate depth of 2,000 metres has predicted temperatures of 71°C to 74°C. We anticipate sustainable flow rates from these reservoirs of 100 to 300 ms/hr. The water contains about 150,000ppm of total dissolved solids, mostly sodium chloride. It is anticipated that the sulphate content will be 3,000 to 6,000 ppm, that the dissolved oxygen and hydrogen sulphide content will be small, and that the waters will be neutral to slightly alkaline. It is anticipated that the piezometric level will be 46 m below the ground surface for reservoirs in the upper part of the Basal Clastic Unit and 141m below the ground surface for the lower reservoirs of the unit. Plans are to build a low-grade geothermal research, testing and demonstration facility at the University of Regina. To be a practical demonstration, the facility will have to handle very large volumes of water. Because of high salinity, the water will be re injected into a subsurface reservoir. We do not anticipate insurmountable problems because of salinities or as a result of corrosion provided that the waters are not aerated during handling

Jan 1, 1979

By D. E. G. Maschmeyer

The operation of the pilot plant for the S-C Copper Process during 1976 has provided the basic data for the design of a commercial-scale plant. This paper introduces the commercial aspects of the S-C Copper Process through the presentation of a process flow diagram, a schematic flow diagram and basic design parameters for 75,000 tonnes per year (tpy) copper rod production from chalcopyrite concentrate. Basic operating requirements are outlined and a preliminary estimate of operating and capital costs for a Western Canadian location are summarized. The results have been compared with a modern smelter/electrorefinery to highlight the advantages and disadvantages of these two alternatives and to show why the new S-C Copper Process technology should be of interest to the copper industry.

Jan 1, 1978

By G. Castillo, G. Thies, C. Bissue

"Newmont’s Phoenix mine began gold production in 2006 and has since experienced difficulties in reaching design throughput due to variability in ore hardness. In 2010, a debottlenecking study was conducted, generating multiple options to increase throughput of the existing Phoenix Mill through a series of phased expansions. An option was selected in early 2011 to increase the current concentrator capacity by approximately 25% through two phases. The first phase of the project was the installation of a secondary crushing and screening circuit in order to reduce SAG feed size from a P80 of 6 inches to 2 inches. The second phase focuses on downstream unit operations in the concentrator aiming to relieve existing bottlenecks such as flotation. This paper analyzes the design, commissioning, and operation of a recently installed SAG Pre-crush circuit (Phase 1). The design discussion will focus on concept development, flowsheet design, design criteria, process models, design limitations, and control philosophy. Discussion on the integration of operating data and flowsheet into design during engineering will be presented. Actual operating data of major equipment is gathered from the commissioning and operation of the circuit and compared to the initial design models. Conclusions will be drawn on equipment design factors used during engineering, and the success of model integration into operation. The paper concludes on the successes of the project and where improvements can be made during design.INTRODUCTIONThe Phoenix mine is located within 25 miles of the town of Battle Mountain, Nevada. The mill processes copper, silver, and gold ore. Production started in 2006 and has since struggled to reach the designed tonnage of 33,600 stpd due to the variability in ore hardness. In production year 2010-2011, the Phoenix mill average daily throughput of 33,000 stpd. In 2008, a larger primary crusher (FLS 60/89 gyratory crusher) was installed to operate in parallel with the originally supplied primary crusher (Metso 50/65 gyratory crusher), in order to provide additional capacity upfront in the circuit so that the primary crushing circuit could keep up with the mill.In 2010, a mill debottlenecking study was completed to assess the various options that could be implemented to increase the current mill capacity. The study was completed in late 2010 and contained four tonnages that Phoenix could achieve through various expansion scenarios. A single option was selected in early 2011 to increase the mill capacity from 33,000 stpd to 48,000 stpd. The selected option looked at a four phased expansion that would increase the capacity of the Phoenix mill and address the mill’s current bottlenecks:"

Jan 1, 2013

By Karl J. C. Harries

"4.1. INTRODUCTIONThis chapter, although divided into four parts, deals with only two principal topics. The first briefly describes and discusses some common types of property interests and considerations relating to them and the second deals with entering upon privately owned lands and obtaining the consent to do so.It should be noted that the terms “mining rights” and “mineral rights” are used interchangeably. As so used, they include the right to exploit the minerals and dispose of them for the benefit of the owner/lessee. This is relatively common in common law jurisdictions. In some jurisdictions, the two terms have distinct meanings, with “mining rights” referring to the right to work or exploit the minerals and “mineral rights” referring to the minerals themselves.Finally, it must be mentioned that the comments in the Introduction and §§ 4.2., 4.3. and 4.4. are based primarily upon Ontario law and Ontario’s mining and real property systems of registration. They have been included for illustrative purposes.4.2. LICENCES, CLAIMS, AND LEASESIn most jurisdictions, there are several basic types of interests that can be obtained from the state for mining purposes and that are of interest to the explorationist, as opposed to the operator. Different jurisdictions will have variations of these and possibly some extra ones that will address special purposes or local concerns. In virtually every jurisdiction, privately owned property rights are obtained through negotiation between owner and acquiror.Exploration or prospecting licence. This licence grants to the holder the right to prospect over a large tract of land and the exclusive right to acquire mining claims within that tract for the term of the licence. Such licences are usually negotiated documents requiring a minimum expenditure during the first year (often secured by a deposit or surety bond) and minimum annual expenditures thereafter to continue the licence in force up to its full term. The term will rarely exceed four years. The number of claims permitted to be staked will be limited in some way, possibly as to a maximum aggregate area or a maximum number of claims per annum. It is normal for the holder to have to drop part of the licensed area each year, so that the area shrinks annually, although exploration expenditure requirements will usually increase.These types of licences are usually used by governments to encourage exploration of otherwise unattractive or remote areas, such as the far northern parts of some of Canada’s provinces. They do not grant any real property interest in the area for which they are issued, and they will be subject to any claims or property rights that exist in the area. They are contracts with the state that grant certain exclusive rights in return for commitments to carry out work. They may or may not be specifically authorized by statute."

Jan 1, 2003

By T. W. Wlodek

In this paper the relative merits of shot peening, induction surface hardening, spiral-rolling, and the combination of these surface treatments, are evaluated on the basis of their capacity to increase the fatigue strength of drill steel. The S-N relations for plain car-bon steel (SAE 1080) and Ni-Cr-Mo drill steels in the as-rolled condition were determined previously, using the new Canadian method of testing drill steel introduced at the annual meeting of the Institute in Toronto in 1950 (19). S-N curves have now been determined by this method for these two drill steels in the following conditions: shot-peened and drawn, induction hardened, induction hardened and shot-peened, and spiral-rolled. ( S.R.) . The ratios of the fatigue strengths of these steels after surface treatment, to their fatigue strengths in the as-rolled condition, are compared and the most beneficial treatments are thereby pointed out. The expected range of stresses and their distribution during actual drilling operations are estimated from data available, and the mechanism of failure of drill steel in the as-rolled and surface-treated conditions is analyzed. The magnitude of the surface compression stresses and their effect on ?fatigue strength are discussed.

Jan 1, 1958

By \/eena Sahajwalla, Jonathan Dicker, Paul O'Kane, Cath Skidmore, James Dankwah, Magdalena Zaharia, Rita Khanna, David Knights, N Saha-Chaudhury, Somyote Kongkarat

Due to the inherent limitations of current methods of disposal of end of life polymeric materials, avenues are researched towards developing alternative, environmentally friendly and economic recycling processes. Different polymeric materials (i.e. rubber, high density polyethylene (HDPE) and polyethylene therephtalate (PET)), quite distinct in terms of chemical structure and composition, were considered in the present study as carbon resources in EAF steelmaking. Investigations were conducted in both laboratory and industrial scale steelmaking to assess the effectiveness of using these materials as carbon sources for slag foaming in EAF steelmaking. Slag foaming is important because it enhances furnace efficiency.

Jan 1, 2011

By R. C. Fernandes, F. L. Santos

Aluminum alloys in particular, have certain limitations when subjected to welding process. This is mainly present because aluminum alloys have high thermal conductivity, high contraction in solidification and high hydrogen solubility. Taking this into account, the FSW process has great potential for this application, since it is autogenous, held without metal melting and without the use of slags or shielding gases. From this concept, the aim of this study is to evaluate the joining of thin sheets of aluminum alloy 3105 H26 with 0.7 mm of thickness. To performing of the tests, some parameters were analyzed, such as: tool penetration in the sheets, attack angle, the type of welding tool and penetration control mode (position or force). The results indicated that the force control mode is most suitable for thin sheets, and the transient state at the beginning of welding was the most critical part to control the welding quality.

Jan 1, 2015

By A. D. Hunt

THIS PAPER will review Canada's fossil fuel situation as we understand it today and indicate some of the options available to meet our energy requirements during the next 15 years. It would therefore be helpful to examine Canada's total energy requirements and discuss the un certainties of the data base on which we must base future energy investment decisions. On the world scene, Canada is at the top of the energy-consuming nations, using about 49 bbls of oil equivalent per caput/ year. This appears to be slightly ahead of the U.S. and of course much higher than that of many countries. It is generally accepted that there is a more or less direct relationship between energy consumption and material standard of living. However , as we know, Canada, when compared with other industrialized countries on a GNP, an individual-income or some other standard basis, is lower in the list. This situation may be explained by our more severe climate and a relatively small population distributed over a land mass second only to that of the Soviet Union.

Jan 1, 1977

By J. Don Scott

Analytical predictions of the rate and magnitude of settlement of deposited oil sands tailings slurries generally overestimate how fast pore pressures will dissipate. Field deposits of nonsegregating tailings to mature fine tailings show continued high pore pressures near the surface which impede surface reclamation. In geotechnical analyses which predict the consolidation behavior of soft soils a finite strain theory is used. Effective stress-void ratio and void ratio-hydraulic conductivity relationships determined from laboratory large strain consolidation tests, are used in the finite strain predictions. This theory, however, cannot predict the full range of sedimentation, consolidation and pore pressure dissipation which occurs in large scale deposits of thixotropic tailings slurries. A new large strain consolidation model which assumes that the creep rate of the slurry exceeds the pore pressure dissipation rate is being investigated. This model is relevant for rapidly deposited, low permeability thixotropic slurries where the upwards drainage path increases by several meters a year, such as, in oil sand fine tailings ponds and nonsegregating tailings deposits. The model will be verified by analyzing the 10m high column of fine tailings at the University of Alberta which has been monitored for over 20 years and in which the excess pore pressures are still very high.

May 1, 2004

By Jean-Marc Lulin

"Depuis 1906, pres de 130 gisements ont ere decouverts dans la inture archeenne polymetallique (Cu, Zn, Au, Ag) du nord-ouest becois. Une etude regionale du developpement du potentiel inier est presentee puis detaillee pour quatre secteurs: RouynDranda, Val d'Or-Malartic, Bousquet-Cadillac et Matagami.L' analyse est conduite a l' aide des parametres suivants: temps, ethodes de decouverte, profondeur des gisements et poids metal. ~~ courbes cumulatives illustrant le nombre de gisements decouverts fonction du temps montrent une forme generale en ""S"" dont les i'iations de pentes correspondent aux variations dans les taux de ~ouverte. Initiation, realisation et stabilisation des cycles de decourte sont ainsi mis en evidence. Deux ""bourns miniers"", de 1922 a ~5 et de 1955 a 1965, rassemblent 72 % des mines identijiees squ' a present.La plupart des mines sont trouvees en subsurface: 90% ont leur fmet entre 0 et 100 metres de profondeur dont 70 % entre 0 et 10 etres. Dans le temps, il y ad' abord recolte par prospection puis par fphysique et enjin, developpement progressif du potentiel en proeur avec des methodes composites. Environ 80% du poids metal extrait de 4 camps miniers, couvrant 8% de Ia surface regionale quelques gros gisements dominent /a production.Ces donnees permettent de proposer une nouvelle approche pour lysed' une region miniere:La distribution de Ia profondeur des gisements en fonction du temps est indicatricede /amaturite d' uncampminieret peut servir a evaluer son potentiel residue/.L' analyse des courbes en ""S"" permet d' extrapoler les taux de succes relies aux differentes methodes et met en relief le role crucial de I' innovation dans I' exploration.ABSTRACTSince 1906, some 130 deposits have been discovered in the Archean polymetallic belt of northwestern Quebec. In this paper, the development of the mining potential is analyzed at the regional scale and for the following mining camps: Rouyn-Noranda, Val d'OrMalartic, Bousquet-Cadillac and Matagami.The analysis is based on the following parameters: time, discovery method, depth and weight of metal extracted. Curves showing the cumulative number of deposits discovered as a function of time are ""S"" shaped with slope variations corresponding to changing discovery rates. Initiation, realization and stabilization of discovery cycles are thus well represented. Two ""mining booms"", 1922 to 1945 and 1955 to 1965, account for 72% of the mines identified to date.Most exploitable orebodies have been found near the surface: 90 %have their top between 0 and 100 meters, including 70% between 0 and 10 meters. Early discoveries were made by prospecting, followed by geophysics while the progressive development of the depth potential is being realized by a combination of methods. Approximately 80 %of the metal extracted comes from four mining camps which cover 8% of the area, but most of the production can be allributed to only a few large deposits. Based on these data, a new approach to the analysis of a mining region is proposed:1) The distribution showing deposit depth versus time is indicative of the maturity of a mining camp and can serve to evaluate its remaining potential.2) The ""S"" curve analysis can be used to extrapolate the success rate of a specific exploration method and also stresses the crucial role of innovation in exploration."

Jan 1, 1990

By Jean-Marc Lulin

"Depuis 1906, près de 130 gisements ont été découverts dans la inture archéenne polymétallique (Cu, Zn, Au, Ag) du nord-ouest québécois. Une étude régionale du développement du potentiel inier est présentée puis détaillée pour quatre secteurs: Rouyn-Dranda, Val d'Or-Malartic, Bousquet-Cadillac et Matagami.L' analyse est conduite a l' aide des paramètres suivants: temps, méthodes de découverte, profondeur des gisements et poids métal. Les courbes cumulatives illustrant le nombre de gisements découverts fonction du temps montrent une forme générale en ""S"" dont les i'iations de pentes correspondent aux variations dans les taux de couverte. Initiation, réalisation et stabilisation des cycles de décourté sont ainsi mis en évidence. Deux ""bourns miniers"", de 1922 à 1945 et de 1955 à 1965, rassemblent 72 % des mines identifiées sqú à présent.La plupart des mines sont trouvées en subsurface: 90% ont leur mmet entre 0 et 100 mètres de profondeur dont 70 % entre 0 et 10 êtres. Dans le temps, il y a d' abord récolte par prospection puis par ophysique et enfin, développement progressif du potentiel en proeur avec des méthodes composites. Environ 80% du poids métal extrait de 4 camps miniers, couvrant 8% de Ia surface régionale quelques gros gisements dominent /a production.Ces données permettent de proposer une nouvelle approche pour analyse d' une région minière:La distribution de Ia profondeur des gisements en fonction du temps est indicatrice de la maturité d' un camp minier et peut servir a évaluer son potentiel résiduel.L’analyse des courbes en ""S"" permet d’extrapoler les taux de succès relies aux différentes méthodes et met en relief le rôle crucial de I' innovation dans I' exploration.ABSTRACTSince 1906, some 130 deposits have been discovered in the Archean polymetallic belt of northwestern Quebec. In this paper, the development of the mining potential is analyzed at the regional scale and for the following mining camps: Rouyn-Noranda, Val d'OrMalartic, Bousquet-Cadillac and Matagami.The analysis is based on the following parameters: time, discovery method, depth and weight of metal extracted. Curves showing the cumulative number of deposits discovered as a function of time are ""S"" shaped with slope variations corresponding to changing discovery rates. Initiation, realization and stabilization of discovery cycles are thus well represented. Two ""mining booms"", 1922 to 1945 and 1955 to 1965, account for 72% of the mines identified to date.Most exploitable orebodies have been found near the surface: 90 %have their top between 0 and 100 meters, including 70% between 0 and 10 meters. Early discoveries were made by prospecting, followed by geophysics while the progressive development of the depth potential is being realized by a combination of methods. Approximately 80 %of the metal extracted comes from four mining camps which cover 8% of the area, but most of the production can be allributed to only a few large deposits. Based on these data, a new approach to the analysis of a mining region is proposed:1) The distribution showing deposit depth versus time is indicative of the maturity of a mining camp and can serve to evaluate its remaining potential.2) The ""S"" curve analysis can be used to extrapolate the success rate of a specific exploration method and also stresses the crucial role of innovation in exploration."

Jan 1, 1989

By E. S. Moore

"The Centre of the silver-producing section of the Gowganda area lies about 55 miles northwest of Cobalt, and the village of Gowganda is 71 miles by road from New Liskeard. The geological similarities of the Gowganda and Cobalt areas led prospectors westward from the rich Cobalt field, first to Elk Lake and then on to Gowganda, where mineralization was found in 1907. A year later many showings were found, and rich hand-picked ore was shipped. Most of the ore has come, however, from two mines, both of which are still operating; the Miller Lake-O'Brien, which was purchased by Siscoe Metals of Ontario Ltd. in 1945, and the Castle-Trethewey. The annual production of these two mines runs over one and one-half million ounces of silver and considerable cobalt. The total production of the camp has reached about 32,000,000 ounces of silver and a large amount of cobalt, the total not recorded.General GeologyThe general geology of Gowganda is in many respects much like that of Cobalt. There are areas of Keewatin basic and acid Javas mixed with tuffs and basic intrusions. These rocks are deformed and partly altered to schists, and have been intruded by some Haileyburian basic and ultra-basic rocks and by Algoman granite. These were followed by a large number of porphyritic Matachewan quartz diabase dykes. After a period of extensive erosion the Huronian sediments were deposited on a pene-planed surface over all the older rocks; these sediments include large quantities of conglomerate (partly tillite), quartzite, and greywacke. The Keweenawan rocks include the Nipissing quartz diabase sill, later quartz diabase dykes, and one long olivine diabase dyke, the latest Precambrian rock. The area has been extensively glaciated.Structural FeaturesThere has been little folding in the area since the Algoman batholiths were intruded, and the Huronian sediments lie nearly flat, with dips of 10, 15, or rarely 25 degrees. The Matachewan dykes show a remarkably uniform, nearly north strike, indicative of east-west tension when they were intruded. On the other hand, the dykes later than the sill strike nearly east, tangentially to the northeasterly and northwesterly strikes of the Miller Lake basin."

Jan 1, 1949

By M. Sahoo, P. Burke, Y. Fasoyinu, J. P. Thomson

The effects of grain refinement, mold temperature and chemical composition on the hot tearing resistance of aluminum alloys 535.0 and 206.0 has been studied by pouring constrained rod castings in metal molds. In addition, two prototype components that could be used in automotive applications were also poured from both alloys by gravity tilt-pour and low pressure permanent mold casting processes. This paper summarizes the results and issues encountered during the casting trials. It was shown that grain refinement and mold temperature ::::: 400°C reduced, and sometimes eliminated hot tear cracks in both alloys. The two prototype engineering components could be cast successfully from both alloys in metal molds. The metallurgical issues related to molten metal treatment and processing temperatures were well controlled. However, issues related to the control of hot tearing, casting and mold design must be addressed in future studies to guarantee the production of defect free castings.

Jan 1, 2006

By Emmanuel Henry

Few industries are more challenged by technical, political and market uncertainty than the mineral industry. Technical uncertainty in mining projects concerns the volume and quality of the resource, the processing and metallurgical parameters, the production efficiency, etc. Political uncertainty can take diverse forms and includes possibilities of change in the taxation system, risk of expropriation and risk of social instability or war. Market uncertainty depends on the market structure of the commodity; price and demand volatilities are the most common sources of market uncertainty. Intensive feasibility studies including these uncertainties and risks are required before investing up to billions of dollars in the development of a new mine. Current feasibility studies are often based on a single (or very few) mean geological scenario and simplified price profiles along the life of the project. Yet, strategic decisions, for example, the level of investment in exploration and metallurgical studies, adoption of a flexible, but more costly, mine design and risk-sharing strategies are made at an early stage. Over the last twenty years, Real Option theory has emerged as a unifying framework enabling strategic planning under uncertainty (technical, political and market). Geological and market variances (second order statistics) are pivotal for proper uncertainty quantification. The present study explores the possible benefits of combining modern geostatistical tools and financial techniques for project management. More precisely, the following questions are examined: Is geological uncertainty really an issue? Can we combine geological and price uncertainties in a unifying Real Option framework? A simple example aimed at illustrating the concepts involved is presented.

May 1, 2003

By A. S. Dawson

Introduction The purpose of this paper is to discuss, in a general way, the application of geological principles in the exploration for, and development of, deposits of industrial minerals. Mention of geological factors pertaining co specific minerals will be by way of illustration only. Since many prospectors are little acquainted with the geological setting and mode of occurrence of deposits of these minerals, some prospecting possibilities in the field will be pointed out. Geology is a tried and proven tool in the search for and exploitation of metalliferous deposits and of oil and gas fields, but, so far at least as Canada is concerned, only very rarely has a directed, intensive search been made for deposits of industrial minerals. Examples might be cited, however, where, in other countries, such investigations have yielded rich rewards. Thus, development of the vitally important potash deposits of New Mexico was the result of a deliberately planned programme of geological investigation, first by United States Government agencies, and later by private interests. War or the threat of war, or peace-time industrial expansion, can render concentrated exploration for specific minerals desirable or even essential. Such exploration is, primarily, a geological problem. Admittedly, there is in general less scope for the application of geology in the search for, and development of, deposits of industrial minerals than of metalliferous minerals, oil, etc. Where the latter are concerned; the objective of exploration is to find a material that is valuable, within broad limits, no matter where it is located or how it occurs. The unit value of the material is limited only by the amount of the valuable constituent in the formation- its possible upper limit is tremendously high. On the other hand, many industrial minerals constitute in themselves 90 per cent or more of the formation- their amount cannot increase and their unit value is commonly low. Moreover, for commercial exploitation, the deposit must, in general, be reasonably close to markets or to plant or other facilities for processing the raw material, since, owing to its low value, this cannot be transported any great distance. As a consequence, intensive geological search for and investigation of such deposits has been restricted to industrialized areas. Obviously, however, it is good insurance for any operator to understand the geological background of his deposit, particularly in the case of new developments.

Jan 1, 1949

By S. Felderhof, W. S. Vaughan

"Over the years, it has been increasingly difficult for the minerals industry to raise the necessary capital for its activities. To alleviate this phenomenon, complete transparency and capital market efficiency is needed. Since a company’s mineral resources and mineral reserves base is an essential component to obtaining capital, reporting these assets must also be transparent and efficient. This must occur, however, at an international level given that mineral industry operations, and its financing, are international. To achieve this, an international committee (i.e. Australia, Canada, South Africa, the United Kingdom and Europe, and the United States) was formed and has been developing standards for the reporting of mineral resources and mineral reserves.The effectiveness of these standards, however, depends on adoption by the required regulators. Unfortunately, these standards have not been recognized by the U.S. Securities and Exchange Commission (SEC). Instead, the SEC adheres to its old standard (Industry Guide 7), making it increasingly expensive and difficult for international mining companies to obtain capital in the United States. Compounding the problem is the SEC’s influence over the current work of the International Accounting Standards Board and the International Organization Organization of Securities Commissions. These organizations are in the process of standardizing international accounting practices and international securities rules and regulations. Their current position may prevent adoption of the industry-developed mineral resources and mineral reserves standards which are internationally recognized."

Jan 1, 2005